Russian oil companies are relying more heavily on little-known trading firms domiciled in the United Arab Emirates to market their crude. One of the attractions for Russian oil exporters is the UAE's lack of interest in imposing any trade sanctions, as well as low taxation. Companies based in the UAE are not subject to any of the Russia trade sanctions that were introduced in recent months by the US, EU and Switzerland.

More Russian Oil Offtakers Crop Up in UAE

Posted On: November 9, 2022

< 1 minute read

Russian oil companies are relying more heavily on little-known trading firms domiciled in the United Arab Emirates to market their crude. One of the attractions for Russian oil exporters is the UAE’s lack of interest in imposing any trade sanctions, as well as low taxation. Companies based in the UAE are not subject to any of the Russia trade sanctions that were introduced in recent months by the US, EU and Switzerland.